BioMarin Pharmaceutical’s Promising Pipeline and Strategic Focus Justify Buy Rating

Vikram Purohit, an analyst from Morgan Stanley, maintained the Buy rating on BioMarin Pharmaceutical (BMRN – Research Report). The associated price target remains the same with $105.00.

Vikram Purohit has given his Buy rating due to a combination of factors surrounding BioMarin Pharmaceutical’s promising pipeline and strategic focus. The company is prioritizing programs that target genetically defined conditions with clear endpoints and the potential for significant impact, which could lead to commercially viable products. A key focus is on BMN 333, a long-acting therapy for achondroplasia, which is expected to show stronger efficacy compared to existing treatments.
Additionally, BioMarin’s management is optimistic about the upcoming data for BMN 333, anticipated by the end of 2025, which will be crucial for deciding the program’s progression. The potential for increased CNP exposure levels in Phase I trials could translate into real-world benefits, further supporting the Buy rating. Moreover, the company’s strategic moves, such as the recent acquisition of Inozyme, highlight its active pursuit of growth opportunities, reinforcing confidence in its future prospects.

In another report released on May 27, Stifel Nicolaus also maintained a Buy rating on the stock with a $91.00 price target.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMRN in relation to earlier this year.